KB prezent. angl - Komerční banka
KB prezent. angl - Komerční banka
KB prezent. angl - Komerční banka
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17. Cash and current balances with banks<br />
Cash and balances with the central bank comprise:<br />
CZK million 2003 2002<br />
Cash and cash equivalents 7,198 7,465<br />
Balances with central banks 5,086 6,468<br />
Current accounts with other banks 165 575<br />
Total cash and current balances with banks 12,449 14,508<br />
Current accounts with other banks include nostro accounts maintained with correspondent banks. Given the liquidity of these funds<br />
management has included them within the same caption as cash.<br />
Balances with central banks include:<br />
CZK million 2003 2002<br />
Obligatory minimum reserves 5,070 3,843<br />
Deposits repayable on demand 16 2,625<br />
Total 5,086 6,468<br />
With effect from November 2003, all deposits with the CNB repayable on demand have been included in the obligatory minimum<br />
reserves. Obligatory minimum reserves bore interest at 2 percent and 2.75 percent as of 31 December 2003 and 2002, respectively.<br />
Obligatory minimum reserves with the Slovak National Bank bore interest at 1.5 percent and 1.5 percent as of 31 December 2003<br />
and 2002, respectively.<br />
18. Amounts due from banks<br />
Balances due from banks comprise:<br />
CZK million 2003 2002<br />
Loans and advances to banks 1,155 2,146<br />
Securities of banks acquired under initial offerings not designated for trading 19,101 14,020<br />
Advances due from central banks (repo transactions) 166,832 144,801<br />
Term placements with other banks 15,050 39,283<br />
Total 202,138 200,250<br />
Specific provisions (15) (11)<br />
Total due from banks 202,123 200,239<br />
Advances due from central banks are collateralised by treasury bills and other debt securities issued by the national central banks or<br />
the Ministry of Finance of the Czech Republic.<br />
Securities acquired under initial offerings not designated for trading<br />
In the third quarter of 2003, pursuant to its investment strategy the Group acquired, under an initial offering and normal market<br />
conditions, bonds issued by the parent company denominated in CZK with an aggregate nominal value of CZK 5,000 million maturing<br />
in 2013. These bonds bear fixed interest at 3.98 percent. Since 2002, the Group has carried bonds issued by the parent company<br />
denominated in CZK with an aggregate nominal value of CZK 14,000 million, maturing in 2012 and bearing fixed interest at<br />
4.27 percent.
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